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KLI Employment & Labor Brief No. 87 (2019-02): Innovative SMEs and Job Creation for Youth
KLI Employment & Labor Brief No. 87 (2019-02): Innovative SMEs and Job Creation for Youth
  • Table of Contents

    Table of Contents

    1. Introduction: Why Innovative SMEs?

    2. Attributes of Businesses with Fast-growing Employment and Youth Employment

    3. Contribution by Innovative SMEs to Total and Youth Employment

    4. Case Analysis of Innovative SMEs

    5. Future Policy Improvements

     

    Summary

    Korea’s youth employment challenge is largely attributable to vulnerabilities in the foundation of decent job creation such as dual structure of labor market and the resulting evasion of SMEs by job seekers, and a limited primary labor market. Though the overall SME landscape is extremely vulnerable in terms of creation of decent jobs, it should be noted that there are high-potential SMEs that can develop into a primary labor market such as innovative SMEs. Empirical analysis and case studies found that innovative SMEs such as startups and technology-oriented innovative businesses have maintained a sound business performance over the past several years, achieving as much total and youth employment outcome as large enterprises. Therefore, policies should be improved to connect and combine various policy tools in diverse areas in order to support the growth of innovative SMEs, which serve as one of the main sources of decent jobs for the youth.